The Ratings Game
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Piper Sandler analyst moves to bearish stance on Shopify shares, warning that expectations look ‘too aggressive’
One analyst worries Shopify benefited from big 2023 trends that are unlikely to repeat.
Shopify
Shopify Inc.’s stock has more than doubled thus far in 2023, but a Piper Sandler analyst is skeptical that it can continue its monster run.
Piper’s Clarke Jeffries downgraded Shopify’s stock SHOP to underperform from neutral Tuesday, warning of an “untenable valuation” in light of “too aggressive” expectations for growth and profit going forward.
“Macro,…
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